Just met a Sydney friend today who excitedly told me he put down a deposit (unseen)on a house in Redbank up in Queensland near Ipswich . He says he has worked out its about 30 minutes drive from Brisbane. He believes its going to get a good CG I believe he made a mistake but up to him. Its price was $290k and rental return is $330 I havent been to QLD for years... Anyone can tell me more info about Redbank ?
Have you done a search on the forum? There have been a few posts on the area over the past couple of months. What factors has your mate quoted that will push CG? Lots of vacant land around that area, so not in overly short supply.
Ask your friend to bring up Redbank Plains and Ipswich on Google satellite maps and see how much green there is around the area. Plenty of land out there..... Cheers, Michael
Just hope his legal team did a flood map search for the area,because a lot of flood jobs are coming back onto the market now..
Hi, I was looking at red and plains as a first homebuyer. The area is close to Springfield which has a major new shopping centre, university and hospital and is set to expand. However they are building new suburbs like Augustine heights out there, but all the new suburbs have small allotments. Mining occurred a lot out that way and there have been issues of houses cracking etc. I was told that this area is in the western corridor which will grow but I don't know how accurate that is. Also it's not 30 minutes to the city, more like 40-45 by train and depending on time of day or week at least 35 minutes(on a Sunday morning) drive to the city. redbank has a better name than some surrounding areas like goodna and seems popular with a lot of people and it has its own train station on the rosewood line. In the end I decided not to buy there and went closer to the city at Acacia Ridge (15 km from city).
i bought at Redbank plains mid last year and did very well so far in terms of CG & CF, there are many attributes to look at when you consider an investment property other than available land to determine if an area has growth prospects. And like any other IP even in SYD, DD is your friend.
bought a 3/1/2 on a 800m2 corner block for $220k, renting $300/wk, i think it was settled sometime around Sep 2014. Another one bought by my bro is a 3/1/2 on 1000m2 block for i think $250k, renting i think 330/wk and that was settled early this yr.
@Darlinghurst Boy It's in the South East QLD growth corridor, so yes the growth will be quite sometimes but the yield is good. May I know what's good about it that makes your friend bought it sight unseen ? I bought sight unseen in Park Ridge QLD but it's new H&L package.
@jins13 no man, look here below from trusted source premium website (RPData): Both are different, RBP is on the upswing (Blue) while Melton is almost stagnant (Yellow). Here's another comparison, RBP is better in terms of yield compare to Melton: Source: RPData Compare suburb as at 14/12/2015
